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...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the Financial Times the company had decided to focus its investment plans on the UK because of London’s primacy in analysing complex...
...cap, while using western-based insurance services — a potential breach of restrictions imposed by western powers to try to crimp Moscow’s oil revenues....
...Analysts at Bank of America said the deal should not worsen the outlook for capital returns at Aviva....
...Mitsui Sumitomo Insurance also recently announced expansion plans for its Lloyd’s insurer. But there is a fragility to this recent success....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...The mechanics of the NAIC’s rule change (as described by Barclays, Bank of America, regulators, industry groups and various other sources) are . . . not especially simple....
...The analysts at Employ America have also highlighted auto insurance’s role in the recent gap between the CPI and the Fed’s favoured PCE indicator — and reckon that part of the gap could very possibly narrow...
...Instead, they said consumer spending remained strong, and much of the drop in lending came from large companies, which have used their excess cash, or better markets, to pay down debt....
...Instead, he said, they should focus on supporting the energy transition, by creating new types of insurance coverage that support key technologies and companies involved....
...Galicia will acquire the entire HSBC Argentina business, including banking, asset management and insurance, HSBC said....
...Methodology The FT Americas’ Fastest-Growing Companies 2024 is a list of the 500 companies in the Americas that have the highest growth in publicly disclosed revenues between 2019 and 2022....
...One marine insurance expert said the liability insurance payout, including bridge damage, could rival the approximately $1.5bn paid after the crash of the Costa Concordia cruise ship in 2012, a record....
...from state-owned insurance companies....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...Separately, Bank of America has named Simon Ives as chair of Emea corporate and investment banking. He was previously chair of Emea healthcare investment banking....
...Insurance groups are now bracing themselves for billions of dollars of losses stemming from the accident, with reinsurers likely to foot the bill in a legal fallout expected to last for years....
...Trump’s lawyers last week said his team had spent “countless hours negotiating with one of the largest insurance companies in the world” in order to secure an appeals bond for the full amount, concluding...
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...Although governor Ron DeSantis and Florida lawmakers in 2022 tried to stem the loss of insurance coverage, the threat of hurricanes has insurance companies rushing for the exits....
...Insurer databases showed Dali had liability insurance through Britannia, one of a global group of protection and indemnity insurers that shares losses and are ultimately reinsured at Lloyd’s of London....
...AXA Millésimes, the insurance company’s wine division, is far lower-key than Bernard Arnault’s vast LVMH empire, but has its own investment in Outpost on Howell Mountain, east of the valley....
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